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OPEC’s Barkindo: Economic And Oil Demand Recovery Remain Anemic

Adel 26 October, 2020 6:10 pm Market Update

The Secretary-General of OPEC said today, Monday, that OPEC+ producers do not expect oil prices to collapse again, as happened in Q2, adding that members of the alliance “will not change course” in terms of rebalancing the market.

“The economic and oil demand recovery remain anemic,” the Organization of Petroleum Exporting Countries (OPEC) Secretary-General Mohammad Barkindo noted on Monday, as reported by Reuters.

“We do not expect a relapse to massive contraction we saw in the second quarter,” Barkindo added. “The conformity level has averaged 100%, we are determined to continue adherence.”

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